Dyne Therapeutics (NASDAQ:DYN) Shares Gap Down – Here’s Why

Dyne Therapeutics, Inc. (NASDAQ:DYN) gapped down before the market opened on Friday . The stock had previously closed at $23.05, but opened at $20.00. Dyne Therapeutics shares last traded at $18.09, with a volume of 866,512 shares.

Analyst Upgrades and Downgrades

DYN has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $43.00 to $35.00 in a research note on Thursday, October 24th. Royal Bank of Canada initiated coverage on Dyne Therapeutics in a report on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 target price for the company. Chardan Capital reissued a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a report on Wednesday, November 13th. StockNews.com downgraded Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Finally, Robert W. Baird started coverage on shares of Dyne Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $46.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Price Performance

The company has a market cap of $1.82 billion, a PE ratio of -5.03 and a beta of 1.16. The business has a 50-day moving average of $27.29 and a 200 day moving average of $34.15.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, equities analysts predict that Dyne Therapeutics, Inc. will post -3.45 EPS for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 782 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $33.10, for a total transaction of $25,884.20. Following the sale, the director now owns 15,962 shares of the company’s stock, valued at approximately $528,342.20. This trade represents a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dirk Kersten sold 23,671 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $35.35, for a total value of $836,769.85. Following the sale, the director now directly owns 99,652 shares of the company’s stock, valued at approximately $3,522,698.20. This represents a 19.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,742 shares of company stock worth $1,443,246. Company insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Dyne Therapeutics by 69.7% in the 3rd quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after buying an additional 3,707,734 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Dyne Therapeutics by 47.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock valued at $244,755,000 after acquiring an additional 2,189,339 shares during the last quarter. State Street Corp grew its position in Dyne Therapeutics by 13.8% in the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock worth $130,816,000 after acquiring an additional 440,890 shares in the last quarter. RTW Investments LP grew its position in shares of Dyne Therapeutics by 6.8% in the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock valued at $244,926,000 after purchasing an additional 431,503 shares during the last quarter. Finally, RA Capital Management L.P. raised its position in Dyne Therapeutics by 5.5% in the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock worth $229,211,000 after purchasing an additional 331,940 shares in the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.

About Dyne Therapeutics

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.